Binasat Posts 55.0% Increase in FY2022 Revenue to RM83.51 Million – Press Release

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Group is optimistic on outlook, focusing on expanding satellite operations, national digital infrastructure initiative and Phase 2 of PoP

KUALA LUMPUR, Aug 29, 2022 – (ACN Newswire) – Binasat Communications Berhad, an all-round solution provider of network engineering and services, today reported revenue of RM83.51 million for the full-year ended 30 June 2022 (FY2022), a 55.08% increase compared with RM53.85 million for the corresponding period of the last financial year (FY2021) mainly attributable to higher revenue from civil mechanical and engineering works, recurring teleport services and revenue from transmission and distribution network facility services and engineering, procurement, construction and commissioning (EPCC) of solar farm facilities.

Binasat Communications’ office in Technology Park Malaysia, Bukit Jalil, Kuala Lumpur

For the period under review, Binasat recorded a 50.74% gain in GP to RM18.22 million compared with the preceding year corresponding period on higher revenue from transmission and distribution network facility services and EPCC of solar farm facilities.

Binasat registered 63.53% increase in PBT for FY2022 compared with RM12.09 million in FY2021 mainly due to increase in GP and additional rental income of RM0.39 million The Group’s PAT gained 123.27% to RM5.41 million compared with RM2.42 million.

The Group recorded RM14.96 million for the fourth quarter ended 30 June 2022 (4Q FY2022), a 15.20% decrease compared with RM17.64 million recorded in the corresponding quarter of the previous year (4Q FY2021) mainly attributable to lower revenue from civil infrastructure and fiber optic cabling works.

Binasat registered a 52.54% gain in gross profit (GP) to RM4.51 million in 4Q FY2022 compared with RM2.95 million in 4Q FY2021 on a reduction in the number of mobile network maintenance services sites although fixed costs continued to be incurred resulting in lower gross margin. Binasat’s profit before tax (PBT) increased 145.72% to RM2.44 million…

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